Home insurance typically provides some degree of coverage for the dwelling (plus attached fixtures and structures), personal property of the occupants, liability and living expense if you need to be relocated during repairs.  Some folks assume that if you have homeowners insurance and disaster strikes your house, the insurance will pay to have your home rebuilt and refurnished.  In actuality, the industry terms within your policy dictate how much you will get paid. The following terms will all offer different payouts:

Replacement cost – coverage that will pay for replacement up to the limits stated in your policy

Guaranteed replacement cost – unlimited coverage to replace as long as you have followed the company’s guidelines

Extended replacement cost – replacement up to the limits stated in your policy plus an extra predetermined percentage

Actual cash value (ACV) – the replacement cost minus depreciation

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Halloween: Tips to make your celebration a treat

2021-05-20T15:09:07-04:00October 24th, 2018|Homeowners Insurance|

Halloween: Tips to make your celebration a treat By Cincinnati Personal Lines Don’t be tricked by liability issues! Keep Halloween safe for family and guests. As you and your family bring out the Halloween decorations and prepare for parties and trick-or-treaters, take time to evaluate the liability exposures associated with [...]

Flood Insurance

2022-01-30T04:10:56-05:00August 1st, 2017|Blog, Flood Insurance, Homeowners Insurance|

Flood Insurance FAQs   Roughly 40% of US residents live in shoreline communities, the overwhelming majority of which have some form of homeowner’s insurance. Unfortunately, homeowner’s insurance (also known as Hazard insurance) does not cover damage from flooding. So in 1968, Congress created the National Flood Insurance Program so that [...]

Builders Risk Insurance

2022-01-30T03:32:48-05:00May 16th, 2017|Blog, Builders Risk, Homeowners Insurance|

Contractor Insurance Quotes   What is builders risk insurance? This insurance coverage is specifically designed to protect buildings and structures that are under development, renovation or construction as well as the equipment being used in the construction project. These policies can include protection for construction materials, heating and air-conditioning equipment, [...]

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